Tuesday, July 17 , 2018, 11:26 pm | Fair 65º



Local Brokers Feeling Optimistic After Real Estate Convention

Hayes Commercial Group reps report both increased energy and attendance at RECon, seen as a barometer of the retail market

With consumer confidence and spending both on the rise, commercial brokers that focus on retail property are hopeful that the long post-recession hangover is finally lifting from the real estate market.

That hope is readily apparent this week at the International Council of Shopping Centers’ RECon show in Las Vegas, according to the three local brokers in attendance. Michael Martz, Kristopher Roth and Pamela Scott of Hayes Commercial Group report both increased excitement and attendance at the show compared with recent years.

With more than 30,000 attendees and more than 1,000 exhibitors, RECon is the world’s largest convention for the real estate industry. In addition to presentations by analysts and a keynote address by Malcolm Gladwell, RECon is a bustling marketplace where brokers representing shopping centers and retail chains meet to make deals. ICSC’s president, Michael Kercheval, reports that attendance at the conference has surpassed the prior two years.

“There is more energy this year,” Martz said. “In recent years, in the depths of the downturn, the big real estate companies sent skeleton crews to RECon. This year the booths are larger and fully staffed, and many companies are hosting parties again.”

The recession brought widespread store closures by national store chains, but current indicators and activity at the conference suggest that the phase of scaling back is drawing to a close and retailers are beginning to roll out new plans for expansion. This is good news for shopping centers and retail property owners on the South Coast, as increased demand for retail space generally favors landlords. However, unlike in the years prior to the recession, most of the current demand is in small- and midsized concepts.

Over their many years at the conference, the Hayes Commercial brokers have found a correlation between activity at RECon and the leasing that happens on the South Coast.

“We see RECon as a barometer of the retail market at the national and global level, which gives us additional perspective on our local markets,” Martz said. “Our reading of this year’s show confirms what our local market data indicate: Commercial real estate markets are continuing to recover gradually, and we are optimistic that the trend will continue.”

— Ted Hoagland is the marketing manager for Hayes Commercial Group.

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made through Stripe below, or click here for information on recurring credit-card payments and a mailing address for checks.

Thank you for your vital support.

Become a Noozhawk Supporter

First name
Last name
Enter your email
Select your membership level

Payment Information

You are purchasing:

Payment Method

Pay by Credit Card:

Mastercard, Visa, American Express, Discover
One click only, please!

Pay with Apple Pay or Google Pay:

Noozhawk partners with Stripe to provide secure invoicing and payments processing.

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click Here to Get Started >

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >

Meet Your Realtor Sponsored by Village Properties

Photo of John Sener
John Sener
"I am known for tenacity, diligence, honesty, and sound decision making with the ultimate goal of closing every transaction to the satisfaction of all involved parties."

Full Profile >